Profile.ini not is your problem. profile.ini only define where are created the KM profile for your user. With profile.ini KM profile is generated in K-Meleon folder in Profile subdir, without it KM profile is generated in your windows user profile folder.
When you deleted profile.ini K-Meleon created a new profile in your windows user profile (in 'Documents and settings' folder) and old local profile in K-M folder don't used any more. As guenter says the problem is a bad configuration or corrution in your local profile (\K-Meleon\Profile\ folder).
Also you can solved this problem deleted 'Profile' subfolder in K-Meleon folder.
This will generated a new local profile.
K-Meleon in Spanish